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Recently, the cryptocurrency markets have been quite volatile and Ethereum
Technical Analysis: Ethereum Price
Looking at the Ethereum price chart, we see that Ethereum has been moving between the levels of $1900-$2000 for the past few weeks. However, the 50-day moving average (50 MA) is still below the average price. This indicates that the Ethereum price is still weak in the short term.
However, there are also several positive signs in the Ethereum price chart that indicate the possibility of rising above the $2000 resistance level. For example, the Ethereum price has recently started moving in a rising channel. Additionally, the MACD indicator also shows a positive trend.
Ethereum Price Prediction
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It seems possible for the Ethereum price to rise above $2000 in the near future. This means that the Ethereum price will try to break the upper band of the rising channel and exceed the $2000 resistance level.
On the other hand, it is also possible for the Ethereum price to move downwards in the short term. In this case, we may see the Ethereum price continue to stay below the 50 MA and retreat towards the $1800 levels.
Conclusion
The Ethereum price shows a bullish trend in the near future and may rise above $2000. However, for this prediction to come true, Ethereum needs to exceed the $2000 resistance level. We are in a period that investors need to follow carefully and price movements can always be unpredictable.
